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6 Tips To Ensuring Your Credit Repair Agency is Legitimate

Sep 5, 2022

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Credit repair agencies have become a popular way for people to improve their credit scores. However, with so many scam agencies out there, it can be difficult to find one that is legitimate. In this blog post, we will give you 6 tips to ensure that the credit repair agency you choose is reputable and trustworthy. Follow these tips and you can be sure that your credit score will improve!

A credit repair agency is a service that can help improve your credit score by correcting errors on your credit report and helping you to manage your debt. With so many agencies to choose from, finding the one that suits you the most can be hard. Moreover, according to Dallasnews.com, many of these agencies are actually scams. Obviously, no one wants to fall victim to a scam, so it is important to do your research before choosing a credit repair agency. Here are six tips to help you choose a reputable and trustworthy credit repair agency:

1. Check the agency’s accreditation

Logically, you want to hire an agency that has its accreditations in order. The two main accreditations for credit repair agencies are the National Association of Credit Services Organizations (NACSO) and the Better Business Bureau (BBB).

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You can check if an agency is accredited by either of these organizations by doing a quick Google search. If an agency is not accredited by either of these organizations, that should be a red flag. The Federal Trade Commission (FTC) is another organization that you can check to see if an agency is legitimate.

2. Ask for references

A reputable agency should have no problem providing you with a list of references from satisfied clients. Once you have the list of references, take the time to contact each one and ask about their experience with the agency. If an agency is unwilling or unable to provide you with references, that is a major red flag. Furthermore, references can also be found on the agency’s website and social media pages.

3. Read reviews online

In addition to references, you should also read reviews of the agency online. You can find reviews on the agency’s website, social media pages, and third-party sites such as Google and Yelp. As with references, if an agency has mostly negative reviews, that is a red flag. When it comes to your finances, you should only trust the best, so make sure to do your research before choosing a credit repair agency. Additionally, social media can be a great way to research an agency. Many people are not shy about sharing their experiences, good or bad, on social media.

4. Contact the Better Business Bureau

If you want to be absolutely sure that an agency is legitimate, you can contact the Better Business Bureau (BBB). The BBB is a nonprofit organization that exists to help consumers find trustworthy businesses and hire reliable services. You can search for an agency on the BBB website and see if there have been any complaints filed against them. If there have been multiple complaints, that is a red flag and you should avoid that agency.

5. Get a contract in writing

Once you have chosen an agency, be sure to get the contract in writing before you agree to anything. The contract should outline the services that the agency will provide, as well as the fees that they will charge. If an agency is unwilling to put the contract in writing, that is a red flag and you should avoid doing business with them. Getting things in writing protects you as a consumer, so always make sure to get a contract before agreeing to anything. In addition, it also protects the company you are hiring, but fraudulent companies want to avoid this type of responsibility.

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6. Make sure the agency is licensed and insured

Before you sign any contract with a credit repair agency, make sure that the terms are in writing. This way, you will have a record of what the agency has agreed to do for you. In addition, make sure that the agency is licensed and insured. Both the license and insurance will help protect your interests in case anything wrong occurs. Insurance policies vary, so make sure to ask about this before you sign any contract. More importantly, a reputable and legitimate agency will have no problem providing you with this information.

If you follow these tips, you should be able to find a reputable and trustworthy credit repair agency. However, if you have any doubts about an agency, it is always best to err on the side of caution and avoid doing business with them. Your finances are important, so make sure to do your research before choosing a credit repair agency.


NCFA Jan 2018 resize - 6 Tips To Ensuring Your Credit Repair Agency is LegitimateThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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